Frank McCourt's quest to keep the Dodgers hit a bit of a snag in recent weeks. The Dodger owner tried to secure a $200 million loan from Fox that would be secured by their television contract, but is was rejected by MLB commissioner Bud Selig, according to Bill Shaikin of the Los Angeles Times:
Selig made his decision several weeks ago. Since then, McCourt has continued to explore financing options that would enable him to satisfy the commissioner and manage a debt that, according to court records, exceeded $430 million as of November 2009.
Shaikin also reports that the deal could have extended the Dodgers' TV contract, which expires after 2013, for up to four years:
The Fox loan to McCourt could have enabled the company to secure an extension to the Dodgers' rights at about $50 million per year had McCourt not repaid the proposed loan.
The $50 million per year would be an increase over their current deal with Fox, which pays them $35 million in 2011, $37 million in 2012, and $39 million in 2013. However, when the Rangers can sign a deal worth a reported $80 million per season, the default rate seems decidedly under market. Then again, it is a default rate after all, which is understandably punitive by nature.
In on field news, spring training games -- you know, actual baseball -- start on Saturday. They play two games, each at 12:05 p.m. PST, both on the road. Here are the scheduled pitchers in each game:
- in Tempe vs. Angels: Hiroki Kuroda, Rubby De La Rosa, Scott Elbert, Lance Cormier, Roman Colon, and Luis Vasquez
- in Scottsdale vs. Giants: Tim Redding, Carlos Monasterios, Oscar Villarreal, Jon Huber, and Wilkin De La Rosa
The game against the Angels will be broadcast on radio only, on 790 KABC.